Consumer Equilibrium

Consumer Equilibrium

11th - 12th Grade

7 Qs

quiz-placeholder

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Consumer Equilibrium

Consumer Equilibrium

Assessment

Quiz

Other

11th - 12th Grade

Practice Problem

Hard

Created by

Niti Rathore

Used 131+ times

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7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Slope of the Indifference Curve is 

Price Ratio
MRSxy
MRTxy
None of these

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What will be the shape of the Indifference curve when its slope increases?

convex to origin
concave to origin
straight line
none of these

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The necessary condition in Indifference curve analysis for equilibrium is

MUx = Px
MUx/Px = MUy/Py
MRSxy = - P1/P2
MRSxy increases

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Equation of Budget Line is

P1X1+P2X2 <M
P1X1+P2X2 = M
P1X1+P2X2 >M
P1X1+P2X2 <= M

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The collection of all the consumption bundles which costs the consumer exactly equal or strictly less than her money income is called 

Budget Line
Budget Set
Indifference Map
Indifference Curve

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The slope of budget line is:-

concave
convex
MRS
price ratio of the commodity

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Consumer's equilibrium is maintained at the point where ....

Budget line cuts indifference curve

Budget line is tangent to indifference curve

Budget line is convex to origin

Budget line is parallel to indifference curve

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